U.S. August core capital goods orders rose 1.6%, beating expectations, adding further support to third-quarter GDP.

Zhito Finance APP has learned that U.S. business equipment orders rose more than expected in August, extending the strong momentum in capital investment this year. Data released by the U.S. Department of Commerce on Friday showed that core capital goods orders, excluding aircraft and military hardware, a proxy for equipment investment, increased 1.6% month over month, while July data was revised up to a 0.6% increase. Bookings for all durable goods, meaning items intended to last at least three years, including commercial aircraft and military equipment orders, were little changed. Boeing reported that its orders in August declined from the previous month.